New Multiyear High for GE from Infrastructure Forecast

Before you go, we thought you'd like these...
Before you go close icon

General Electric Co. (NYSE: GE) has been enjoying a recovery despite what has been a period of caution for so many global corporations. In a meeting today, GE's Chairman and CEO Jeff Immelt has been talking up GE's prospects going forward. Today's presentation is from the GE Infrastructure Investor Meeting.

After having unveiled new mining initiatives earlier this week, Immelt has talked up the conglomerate's industrial organic revenue growth to about 10% after a prior forecast of 5% to 10%. GE also signaled that it will record a gain of about three-cents per share in the third quarter period due to its prior stake sale of NBC-Universal.

Shares hit $22.69 today and that is not just a high for the last 52-weeks. This is a high going back to late in 2008 when GE was in free-fall along with just about every other company as the great recession was ripping apart America.

At today's meeting the conglomerate is having presentations from executives in the following areas: Aviation, Oil & Gas, Healthcare, Energy Management, H&BS, Transportation and Power & Water.

The entire slide show can be accessed here.

Our take is simple here. This is just one more supporting argument for why GE will raise its dividend at the end of this year for 2013.


Filed under: 24/7 Wall St. Wire, Conglomerates, Infrastructure Tagged: GE
Read Full Story


S&P 500 2,343.98 -1.98 -0.08%
DJIA 20,596.72 -59.86 -0.29%
NASDAQ 5,828.74 11.04 0.19%
DAX 12,064.27 24.59 0.20%
NIKKEI 225 19,262.53 177.22 0.93%
HANG SENG 24,358.27 30.57 0.13%
USD (per EUR) 1.08 0.00 0.01%
USD (per CHF) 0.99 0.00 0.02%
JPY (per USD) 111.34 0.01 0.00%
GBP (per USD) 1.25 0.00 0.01%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners